BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Sees Large Decline in Short Interest

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 807,700 shares, a drop of 23.1% from the December 31st total of 1,050,000 shares. Based on an average daily volume of 801,400 shares, the short-interest ratio is currently 1.0 days.

Institutional Trading of BioXcel Therapeutics

An institutional investor recently raised its position in BioXcel Therapeutics stock. XTX Topco Ltd increased its position in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) by 49.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,503 shares of the company’s stock after acquiring an additional 15,291 shares during the quarter. XTX Topco Ltd owned about 0.12% of BioXcel Therapeutics worth $60,000 at the end of the most recent quarter. 30.68% of the stock is currently owned by institutional investors.

BioXcel Therapeutics Stock Up 1.0 %

Shares of BioXcel Therapeutics stock opened at $0.33 on Friday. BioXcel Therapeutics has a 12-month low of $0.30 and a 12-month high of $4.17. The stock has a 50 day moving average price of $0.39 and a two-hundred day moving average price of $0.60.

Analysts Set New Price Targets

Several brokerages recently commented on BTAI. HC Wainwright lowered their price target on BioXcel Therapeutics from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday. Canaccord Genuity Group dropped their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $0.25 price objective (down previously from $7.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.